Making the CVA Experience Possible for Your Family
CVA’s Financial Aid and Scholarship Philosophy and Processes
For school year 2021-2022
CVA acknowledges that cost is a factor for every family considering independent education, and therefore we take a proactive approach towards educating families about their financial commitment. The objective of the following pages is to give you what we feel is important information about your CVA investment. If you have any questions or concerns, you should always feel free to contact us directly or set up an appointment to discuss your financial partnership with CVA. We sincerely look forward to working with you.
- Carrabassett Valley Academy does not discriminate based upon race, color, or national and ethnic origin in the admission of students or in the awarding of financial aid/scholarships.
- Decisions about acceptance and financial aid or scholarships are made separately and independently.
- CVA awards financial aid based upon demonstrated need. Scholarships are awarded on factors other than need.
- CVA makes financial aid and scholarship awards to those returning financial aid students who are eligible before granting aid to new financial aid applicants.
- All students receiving financial aid and/or scholarships must reapply every year to continue to receive aid.
- CVA financial aid and scholarship awards are applied only toward the cost of tuition, room, and board.
- Currently over 70% of CVA families receive financial aid/scholarships. The average aid awarded is around $15,000.
- Please do not let the tuition price prevent you from exploring CVA. We are committed to helping you make the CVA experience possible for your child.
CVA Payment Plans
For those families who wish to spread their payments over a period of time, CVA offers a two payment plan and a monthly payment plan. Both plans have interest fees associated with them and the monthly plan varies with the length of enrollment. For further information, please see the enrollment letter or contact the Director of Finance.
The Source of CVA’s Financial Aid Dollars
We depend on our fundraising efforts each year for the money awarded in financial aid. Because the requests for financial aid exceed our resources, we have to ask every family to be responsible with its discretionary income, look for additional resources, and contribute its share of a student’s tuition.
All financial information is strictly confidential and is reviewed by the CVA Financial Aid Committee. Recipients of financial aid are not identified at the school unless CVA needs to qualify him/her for a specific school scholarship.
Importance of Deadlines
Because there are limited financial aid dollars, it is important for families who are applying for aid to follow the guidelines set by CVA. CVA makes awards to new applicants after awards have been given to current students who are eligible and on time. The financial aid application deadline for priority consideration is April 15, 2020, however, applications will be accepted after this deadline and awards will be made based on the availability of funds. Each award also comes with a deadline for acceptance after which the funds will be put back into the general pool.
CVA uses Smart Aid which assists schools in determining need through a standardized application and computation process in order to most equitably assess a family’s ability to pay for a private education. The role of Smart Aid is to make a recommendation to CVA of the family’s ability to pay based on the information a family provides. The Financial Aid Committee makes the decision on whether to award aid and also determines the amount to be awarded in the form of grants. Families applying for scholarships must also complete the Smart Aid application.
Log on to https://smartaidforparents.com and complete the online application using the school code 14570 on page 3 of the application (note: do NOT use this code as an “access code” – CVA does not use an access code). Then upload financial documents as instructed. A video tutorial is available on the Smart Aid site. You may use either a 2019 or 2020 tax return, however, future years’ applications must be sequential based on your choice this year. (i.e. If you choose 2019 this year, then next year must be 2020, followed by 2021 the year after, etc. If you choose 2020 this year, then next year must be 2021, etc.) If you have questions or concerns, please contact Erin Whipple, Director of Admissions, 207-237-4466 or Steve Sitz, Director of Finance, 207-237-4460.
Basis of Awards: CVA awards financial aid based on need. Scholarships are awarded on factors other than need.
Award Cycle: All awards are reconsidered annually and all paperwork must be completed each year. Once a student has been granted financial aid/scholarship, his/her parents may assume that the award will continue unless there are significant changes in need as reported by Smart Aid or the conditions of the scholarship are not met.
Priorities: Consideration for financial aid dollars is given below. Funds will not be reserved for families who paperwork is late.
1. Applications from current students who have completed all necessary requirements on time.
2. New applications from candidates accepted by the Admissions Committee who completed all necessary requirements on time.
3. New and renewal applications completed after the deadline. Applicants will be notified as to the availability of funds.
Divided Families: CVA believes in the principle that both parents have an obligation to pay the educational expenses of their children to the extent they are able. Both parents are required to complete the Smart Aid application process unless legal documentation is provided that one parent has been released from financial obligation.
Unusual Circumstances: We encourage a family to schedule a meeting with the Director of Admissions if there are specific questions to be answered or unusual circumstances to discuss.
Definition of Awards: Financial aid/scholarships are awarded in the form of grants. They do not require repayment.
Appeals Procedure: If you have questions about your financial aid award, you should feel free to contact the Director of Finance to discuss your situation or any unusual circumstances. CVA requires that you write a letter or email stating the situation/circumstances and this information will be submitted back to the Financial Aid Committee for consideration. CVA gives one review per application subject to the aforementioned written request.
CVA’s Financial Aid Calendar
April 16, 2021 Financial aid application deadline for priority consideration
After April 16, 2021 Rolling financial aid awards based on availability of funds
Resources for Families Beyond CVA’s Financial Aid Program
We encourage you to pursue other scholarship and funding opportunities.
- The Sugarloaf Ski Club Scholarship Fund : www.sugarloafskiclub.org/scholarship-programs-1
- Towns and community organizations such as Kiwanis and the Rotary are places to inquire about merit scholarships
- Many families contact other family members and churches for assistance. Some have held spaghetti dinners in their towns and sold tickets to raise money.
- Contact your student’s coach for athletic merit scholarship ideas.
- Education loans are available through: